Awesome idea. Don't mean to threadjack, but if you want to go with the E46 M2 setup my custom driveshaft for a 5spd car + M3 diff will be for sale in late April.
Sub'd for updates!
Imola Red M5 | Imola Red InteriorPast:
M-Audio, Power Sunshades, GT Exhaust, Custom BC Coilovers, 19x10 + 19x11 Rial Dayonta Race, Michelin PSS
'01 330Ci Titanium Silver on Coral Red
'96 328i Jet Black on Black